Chapter 6Idea Hierarchy Model
Ideas for businesses are plentiful. Almost everyone has had a small-business idea at some point in their lives. The secret sauce of a winning business is in the execution; however, the quality of the idea increases the likelihood of successfully executing that idea and seeing it to fruition. I believe there are different levels of ideas, an “idea hierarchy” that you should consider when evaluating your idea and whether it has “legs.”
The idea hierarchy is a simple representation of the four levels of the quality of your idea. The hierarchy goes from the best to worst, top to bottom:
1. Niche ideas.
2. Established brands.
3. Novelty items or non-recurring ideas.
4. Useless ideas and premature ideas (whose time has ...
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